ServiceNow, Inc. (NYSE:NOW – Get Free Report) saw strong trading volume on Monday . 20,697,089 shares changed hands during mid-day trading, a decline of 10% from the previous session’s volume of 23,054,986 shares.The stock last traded at $135.4350 and had previously closed at $124.37.
Key ServiceNow News
Here are the key news stories impacting ServiceNow this week:
- Positive Sentiment: ServiceNow is catching a sector-wide rally after Nvidia’s Jensen Huang said AI tools are unlikely to disrupt software companies, which boosted sentiment across software and cloud names. ServiceNow, Adobe stocks jump as Nvidia’s new AI chip sparks software rally
- Positive Sentiment: Investors are also reacting to continued enthusiasm around “agentic AI,” which supports ServiceNow’s positioning in enterprise workflow automation and AI-driven software. $700 Billion and Most Investors Are Watching The Wrong Companies
- Positive Sentiment: Recent coverage highlighted ServiceNow’s strong quarterly revenue beat and rising analyst confidence, reinforcing the stock’s rebound after a prior stretch of weakness. ServiceNow Stock (NOW) Extends Rally as Nvidia CEO Jensen Huang Backs Software Firms in AI Era
- Positive Sentiment: Another supportive backdrop is ServiceNow’s expanding AWS partnership and platform momentum, which could strengthen its long-term enterprise AI growth story. Here is Why ServiceNow (NOW) is One of the Best Future Tech Stocks According to Billionaires
Analysts Set New Price Targets
Several equities analysts have commented on the stock. Benchmark assumed coverage on shares of ServiceNow in a research report on Wednesday, April 1st. They issued a “buy” rating and a $125.00 price target for the company. Citic Securities decreased their price target on shares of ServiceNow from $168.00 to $140.00 and set a “buy” rating for the company in a research report on Thursday, May 21st. Oppenheimer restated an “outperform” rating on shares of ServiceNow in a report on Tuesday, May 26th. BTIG Research restated a “buy” rating and issued a $150.00 price objective on shares of ServiceNow in a report on Monday, May 4th. Finally, Argus reduced their price objective on shares of ServiceNow from $180.00 to $134.00 and set a “buy” rating on the stock in a report on Friday, April 24th. Two equities research analysts have rated the stock with a Strong Buy rating, thirty-five have assigned a Buy rating, five have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $141.85.
ServiceNow Trading Up 10.0%
The firm has a market cap of $141.05 billion, a PE ratio of 81.48, a P/E/G ratio of 2.05 and a beta of 0.94. The company’s fifty day moving average price is $98.05 and its two-hundred day moving average price is $123.39. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.13.
ServiceNow (NYSE:NOW – Get Free Report) last issued its earnings results on Wednesday, April 22nd. The information technology services provider reported $0.97 earnings per share for the quarter, meeting the consensus estimate of $0.97. The business had revenue of $3.77 billion for the quarter, compared to the consensus estimate of $3.75 billion. ServiceNow had a net margin of 12.59% and a return on equity of 18.16%. The business’s quarterly revenue was up 22.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.81 earnings per share. As a group, sell-side analysts forecast that ServiceNow, Inc. will post 2.36 earnings per share for the current fiscal year.
Insider Activity
In other news, Director Paul Edward Chamberlain sold 1,500 shares of the business’s stock in a transaction that occurred on Thursday, May 14th. The shares were sold at an average price of $87.23, for a total value of $130,845.00. Following the completion of the transaction, the director owned 44,930 shares of the company’s stock, valued at $3,919,243.90. The trade was a 3.23% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Jacqueline P. Canney sold 8,927 shares of the company’s stock in a transaction that occurred on Friday, April 24th. The stock was sold at an average price of $89.60, for a total transaction of $799,859.20. Following the transaction, the insider directly owned 29,531 shares of the company’s stock, valued at $2,645,977.60. This trade represents a 23.21% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 28,071 shares of company stock worth $2,529,956. Corporate insiders own 0.34% of the company’s stock.
Institutional Investors Weigh In On ServiceNow
Several institutional investors have recently bought and sold shares of NOW. Brighton Jones LLC grew its stake in ServiceNow by 1.1% during the fourth quarter. Brighton Jones LLC now owns 2,753 shares of the information technology services provider’s stock worth $2,919,000 after buying an additional 30 shares during the period. Sivia Capital Partners LLC grew its stake in ServiceNow by 4.2% during the second quarter. Sivia Capital Partners LLC now owns 837 shares of the information technology services provider’s stock worth $861,000 after buying an additional 34 shares during the period. United Bank boosted its stake in shares of ServiceNow by 15.5% in the second quarter. United Bank now owns 1,519 shares of the information technology services provider’s stock valued at $1,562,000 after purchasing an additional 204 shares during the period. Riggs Asset Managment Co. Inc. boosted its stake in shares of ServiceNow by 2.2% in the second quarter. Riggs Asset Managment Co. Inc. now owns 1,922 shares of the information technology services provider’s stock valued at $1,976,000 after purchasing an additional 42 shares during the period. Finally, Nebula Research & Development LLC boosted its stake in shares of ServiceNow by 205.1% in the second quarter. Nebula Research & Development LLC now owns 906 shares of the information technology services provider’s stock valued at $931,000 after purchasing an additional 609 shares during the period. 87.18% of the stock is currently owned by hedge funds and other institutional investors.
ServiceNow Company Profile
ServiceNow (NYSE: NOW) is a cloud computing company that builds enterprise software to manage digital workflows and automate business processes. Its offerings are designed to replace manual work and legacy systems with cloud-based, service-oriented applications that support IT operations, customer service, human resources, security response and other enterprise functions.
The company’s flagship product family is the Now Platform, a suite of subscription software and platform services that includes IT Service Management (ITSM), IT Operations Management (ITOM), IT Business Management (ITBM), Customer Service Management (CSM), HR Service Delivery, Security Operations and Asset Management.
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